Info

Texas Real Estate Bible Podcast

Everyone has a real estate story, and this is the podcast that gives you the information you need to keep your story from becoming a horror story! Join Houston based agents Karen and Kevin Scott as they share stories (some of them cautionary tales) of the real estate industry in Texas. Funny, irreverent, and real, Karen and Kevin bring their own style to the show and share with you their perspectives and experiences in this sometimes crazy and other times shocking industry. You can reach the hosts by calling 832-559-0480.
RSS Feed Subscribe in Apple Podcasts
Texas Real Estate Bible Podcast
2018
December
October
August
January


2017
December
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July


Categories

All Episodes
Archives
Categories
Now displaying: October, 2016
Oct 26, 2016

Karen and I have our shows that we watch together to unwind.  One of our favorite shows is "Adam Ruins Everything".  The show, hosted by Adam Conover is a mainstay on our DVR because it shows the hidden side of many things that we just take for granted in our culture.

A recent episode entitled "Adam Ruins Housing" piqued our interest because, obviously, we're in the business.  Before we watched the episode, we saw a preview of it on Facebook, and had a conversation with some friends about some crazy statements that were made in the clip.

After the episode aired, we knew we had to do an episode to rebut the half truths, misstatements, and outright lies that were told about the real estate industry in the first 6 minutes of the show.  Listen in as we share the details of the conversation we had with one of the actual sources cited on the episode.  Spoiler alert: His study actually stated the opposite of what the episode said.

Oct 19, 2016

Jen and Mike finally made the decision to stop being renters and become homeowners.  They were excited!  They both knew they had great credit since they checked their credit rating with a free credit reporting service, so they called an agent and started shopping.  They saw some great houses, and some not so great houses.  In all, they went to 30 different properties before they found THE ONE.

It was perfect.  Great curb appeal, great school district, close to work, and had more than enough room for their growing family.  The kitchen and the living spaces were exactly what Jen had always dreamed of, and Mike could already see himself relaxing in the built in man-cave.  Before putting in their offer, they calculated for themselves what the loan payment would be and decided that it would be a stretch, but it would be worth it!  So they put in their offer, and after a little negotiation, they agreed on a purchase price of $350,000.  They took their executed contract to their local bank where they'd been customers for years, and put in their mortgage application.  They went back to their apartment and immediately started boxing up their things.  Sure, it would be several weeks before they would actually move, but they were excited!

A few days later, Jen's phone rang.  It was Chris, their Loan Officer.  "Jen" he began, "I'm not sure how to break this to you so I'll just say it - you and Mike can't qualify for the loan on the house."  "How can that be?  We both have great credit, we both have full time jobs!" "That's all true, but there's a lot more to your financial picture than good credit and employment.  I'm afraid the best you can qualify for based on the information in your application is a $300,000 purchase price."

<end scene>

This is a scene that plays out far more often than most people realize, and when it does happen, it's crushing for the people in Jen and Mike's shoes.  Not only have they wasted a lot of time looking for and falling in love with a house they can't afford, but they also will have their perceptions of all of the future houses they CAN afford tainted by the experience.  This is why it's so important to contact a Loan Officer before beginning your home search.

In this episode, we welcome Clay Bohannan, Senior Loan Originator and Partner at Encompass Lending Group as a guest host.  With Clay, we dive into the many details of the mosaic that makes up your full financial picture. 

In this episode you will learn:

  • What are the three pillars that make up your financial picture?
  • What are the top things you can do to improve your financial picture?
  • When should you start working with a loan originator?
  • What is the process for obtaining a Pre-Qualification?
  • What is the difference between a Pre-Approval and a Pre-Qualification?
Oct 12, 2016

Recently, Karen was representing a set of buyers who found a house that they really liked.  It was in the neighborhood they wanted, it was exactly the right size for their family, and it (almost) fit their budget.  Truth be told, according to the data on other similar homes that had recently sold in the neighborhood, it was overpriced by about $20,000.

Oct 7, 2016

In this episode we wrap up the Kevin interview. You'll learn of the triumphs and failures that shape who he is today. You'll also learn who he thinks would win in a fight between Spider-Man and Batman, and what his life would be if Star Wars had never been made.

Oct 5, 2016

Karen and Kevin discuss part 1 of Getting To Know Kevin. In this episode, you'll learn about what makes your host tick.  We cover his formative years through college.  After listening to this episode, you'll have the answers to the following questions:

How much money did he make selling candy to his classmates in grade school?

Can Kevin dance?

Why did he join the Air Force at the ripe old age of 27?

The answers to all this and more in this episode.

1